Helio Castroneves – Lead-Lap.comhttp://lead-lap.com
Tue, 21 Jul 2015 15:02:17 +0000en-UShourly1https://wordpress.org/?v=4.7.9Castroneves Aquitted Of Tax Evasion Chargeshttp://lead-lap.com/2009/04/17/castroneves-aquitted-of-tax-evasion-charges/
http://lead-lap.com/2009/04/17/castroneves-aquitted-of-tax-evasion-charges/#respondFri, 17 Apr 2009 19:58:05 +0000http://lead-lap.mikejsmith.net/?p=993Helio Castroneves was aquitted of most of the charges that he attempted to evade more than $2.3 million in income taxes.

He was aquitted of six counts of tax evasion, but the jury hung on one count of conspiracy. Similarly, the jury aquitted Castroneves’ sister of the counts of evasion and hung on one count of conspriacy.

Alan Miller, an attorney for Castroneves, was aquitted of tax evasion and conspiracy. Jimmie Johnson testified on his behalf during the trial. Johnson has received financial guidance from Miller.

Prosecutors will now decide the best way to proceed with the conspiracy charge.

Now, Castroneves will return to Team Penske, and Indy Racing League. The team replaced Castroneves with Will Power, pending the outcome of the race.

Castroneves plans to drive in this weekend’s Toyota Grand Prix of Long Beach.

An tax evasion indictment was returned by a grand jury on Thursday. Castroneves is charged with consipracy and six counts of tax evasion. His sister, who is also his business manager, and his attorney are also being indicted.

In the charges, it is alleged that Castroneves, his sister, and attorney used a Panamanian shell corporation called Seven Promotions to fraudulently hide Castroneves’ income from the IRS.

According to the indictment, the driver received $6 million in income over three years, but his tax returns only reflected $1 million. The remaining money was diverted to a company in the Netherlands.

The defendants face up to 35 years in prison, if convicted, but it is highly unlikely that they will receive such a stiff penalty. Actual penalties are expected to much less.